Real estate leasing: a new way to buy home.
In a time when it is complicated the access to credit, especially for young people who often have difficulty in being awarded a mortgage loan, it is becoming increasingly popular formula of the real estate leasing.The stability law has extended the real estate leasing to natural persons. The new rules of real estate leasing will apply from the 1 January 2016 to the 31 December 2020 as fixed. With the real estate leasing contract the bank or the intermediary undertake to purchase the property or do build on choice and indication of the user company, provided of which the property it is set for a given time and for a consideration which must take account of the purchase price or construction and the duration of the contract.At the expires of the contract of real estate leasing, the user has the option to purchase ownership of the asset at a fixed price with the payment of a maxi final installment. Here in detail what provides for the civil and tax rules for real estate leasing used for residential purposes.
– Prohibition of an insolvency action in real estate leasing contract
To the purchase of the property affected by the property lease agreement applies the prohibition to revoke bankrupt action (within the meaning of Article 67, paragraph 3, letter a)l. fall. )
– The consequences of termination for non-performance of the user
In this case, the lessor is entitled returning the property and shall pay the proceeds from the sale or other location of the property took placate market value, after deduction of certain sums. Any negative difference is paid by the user to the grantor.
– Transparency and disclosure requirements
Specific obligations of transparency and advertising for sales activities and relocation of the good. You can ask for the suspension of payment of periodic fees for no more than once and for a maximum period of not more than twelve months in the course of execution of this contract, with automatic extension of the contract for the same period. The benefit of the suspension is subject to specific events that occurred after the conclusion of the contraction particular the termination of the employment contract.
– The shooting modes of payments at the end of suspension
The suspension does not involve the application of any fees or expenses and investigation takes place without request for additional guarantees.It allows to the intermediary, for the release of the property, to act with the process for validation of eviction.
– Fiscal discipline of real estate leasing
Are deductible for income tax purposes to the extent of 19% of the following costs related to the leasing contract:these are the fees and related charges for an amount not exceeding 8000 €, where the expenditure is incurred by young people under the age of 35, with a total income not exceeding 55000 € to act of signing the lease contract and not have property rights of housing at the destination properties.The deduction to the same conditions as for the deduction of interest expense on loans contracted for the main dwelling. For persons aged 35 years, without prejudice to other conditions required by the provisions in question, the maximum amount deductible for income tax is halved: a maximum of 4000 € for fees and a maximum 10000 € for the cost of acquisition.
– The relief relating to registration tax in real estate leasing contract
Subject themselves to a registration tax on a proportional basis the transfers, by users, of finance lease contracts for the buildings for residential use (not only instrumental)even though they are subject to IVA.
– The tax applies to the extent of 1,5 % for the transfer acts against banks and intermediaries carrying on financial leases, the non-luxury , leased non specific conditions (even to those laid down for concessions on buying a first home).
– The rate of registration tax is equal to 1,5% (and not 4% as provided for leasing sales of assets) on acts related to the supply, by the users of financial leases of commercial real luxury, against persons who fulfill the same conditions required for the facilities for the purchase of a first home, even though they are subject to IVA. Outside these conditions, the acts relating to lease assignments are subject to tax in the full extent of 9%.
Therefore, the advantage of the use of the real estate leasing contract not only takes the form of incentive for the rehabilitation of buildings with the consequent creation of new jobs, but will allow especially young people and young couples to be able to have a home and to support their expense.